NextNav (NASDAQ:NN) Shares Gap Down to $8.08

NextNav Inc. (NASDAQ:NN) shares gapped down before the market opened on Friday . The stock had previously closed at $8.08, but opened at $7.91. NextNav shares last traded at $8.10, with a volume of 61,504 shares changing hands.

NextNav Trading Down 2.1 %

The company has a quick ratio of 9.31, a current ratio of 9.31 and a debt-to-equity ratio of 0.60. The firm has a market cap of $890.27 million, a price-to-earnings ratio of -12.24 and a beta of 1.40. The business has a 50 day moving average of $5.42 and a 200 day moving average of $4.76.

NextNav (NASDAQ:NN) last issued its quarterly earnings results on Wednesday, March 13th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.01). NextNav had a negative return on equity of 81.56% and a negative net margin of 1,857.46%. The business had revenue of $1.21 million during the quarter, compared to analyst estimates of $1.19 million. On average, research analysts forecast that NextNav Inc. will post -0.59 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other NextNav news, SVP Arun Raghupathy sold 23,547 shares of the firm’s stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $4.23, for a total value of $99,603.81. Following the sale, the senior vice president now directly owns 1,130,538 shares of the company’s stock, valued at approximately $4,782,175.74. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, Director Neil S. Subin acquired 50,000 shares of NextNav stock in a transaction dated Wednesday, March 20th. The shares were acquired at an average cost of $4.72 per share, with a total value of $236,000.00. Following the purchase, the director now directly owns 2,115,213 shares of the company’s stock, valued at approximately $9,983,805.36. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Arun Raghupathy sold 23,547 shares of NextNav stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $4.23, for a total value of $99,603.81. Following the completion of the transaction, the senior vice president now directly owns 1,130,538 shares in the company, valued at $4,782,175.74. The disclosure for this sale can be found here. In the last ninety days, insiders have acquired 733,000 shares of company stock valued at $3,227,160 and have sold 76,002 shares valued at $321,398. 15.70% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On NextNav

Several hedge funds have recently modified their holdings of NN. Vanguard Group Inc. increased its holdings in NextNav by 1.5% during the 4th quarter. Vanguard Group Inc. now owns 2,351,121 shares of the company’s stock worth $10,462,000 after purchasing an additional 35,058 shares during the last quarter. Goldman Sachs Group Inc. purchased a new stake in NextNav during the 4th quarter worth approximately $129,000. Legal & General Group Plc increased its holdings in NextNav by 320.2% during the 4th quarter. Legal & General Group Plc now owns 25,562 shares of the company’s stock worth $114,000 after purchasing an additional 19,478 shares during the last quarter. Barclays PLC increased its holdings in NextNav by 23.8% during the 4th quarter. Barclays PLC now owns 333,875 shares of the company’s stock worth $1,486,000 after purchasing an additional 64,260 shares during the last quarter. Finally, Whitebox Advisors LLC purchased a new stake in NextNav during the 4th quarter worth approximately $603,000. 79.16% of the stock is currently owned by hedge funds and other institutional investors.

NextNav Company Profile

NextNav Inc provides next generation positioning, navigation, and timing (PNT) solutions in the United States. It offers Pinnacle, a dedicated vertical positioning network to cover entire metropolitan areas including devices equipped with a barometric pressure sensor with the highest quality wide-area altitude service.